Growing institutional confidence in XRP marks a major bullish turning point for the broader digital asset market — and SBI Holdings Inc. sits at the center of this momentum. The Tokyo-based financial conglomerate announced a $200 million investment in Evernorth Holdings Inc., which is set to list on Nasdaq under the ticker symbol XRPN on October 21. The company will be directly focused on acquiring and managing large-scale XRP holdings.
The venture, conducted through a public investment in private equity (PIPE) round and supported by Ripple Labs Inc., underscores the increasing institutional belief in XRP’s regulated status and its long-term utility in global payments and finance. SBI clarified its stance in the announcement:
“Evernorth was established to promote the institutional-scale adoption of the crypto asset XRP.”
According to SBI, the initiative aims to make XRP a core asset for institutional investors worldwide. The company stated:
“The proceeds will be used to purchase XRP from the market to build one of the world’s largest publicly held XRP treasuries.”
SBI further elaborated:
“This treasury aims to continuously enhance asset value not only by holding XRP but also by actively utilizing it through institutional lending and decentralized finance (DeFi). Additionally, all financial reporting will be independently audited by a major accounting firm to ensure a high level of transparency and governance.”
This approach positions XRP as a unique combination of liquidity, compliance, and institutional accessibility that few digital assets can match. Evernorth’s integration with the XRP Ledger ecosystem — including validator operations and decentralized participation — is expected to further strengthen XRP’s position as one of the most institutionally focused digital assets.
The initiative aligns with SBI’s broader strategy to expand blockchain use in mainstream finance and promote sustainable digital markets. The group reaffirmed its commitment, stating:
“SBI Group will continue to make every effort to contribute to the development of the XRP Ledger ecosystem and the healthy growth of the entire digital asset market.”
As XRP benefits from a clear U.S. regulatory framework, proven real-world payment utility, and deepening institutional backing, many analysts view this moment as a defining one in XRP’s evolution — from a payment token to a foundational financial infrastructure asset.
